Below mentioned are the various disadvantages of a business plan:
1. Inaccurate.
It is important to involve the right people in the business planning process as they will be influencing the long-term vision of your business. The person developing a business plan requires expertise in multiple fields for it to be successful, otherwise, the inaccuracy can lead to many unintended consequences.
2. There is often a lack of accountability.
A business plan is developed by only one person, and it is difficult to hold that person accountable for the process. The plans become the guideline for the company's operations and for its success. The business plan is created on the basis of scheduled time instead of the best requirements of the business.
Step by step
Solved in 2 steps
